Question

In: Operations Management

Make an inventory of at least 20 of your physical possessions. For each, indicate when and...

Make an inventory of at least 20 of your physical possessions. For each, indicate when and how you plan to dispose of it. Also, provide detailed reasons for this behavior. Then summarize this information, and answer the following: (a) Which possessions will be the easiest to dispose of, and why? (b) Which possessions will be the hardest to dispose of, and why? (c) What are your most frequent disposition options, and why?

Solutions

Expert Solution

a. The replacement items and the items that are supposed to be sold in scrap are easier to dispose of as they are being taken care of by the authorised dealer from whom we want to purchase the new product.

b. Car and motorcycle is the most difficult to dispose of as it takes time in finding the appropriate customer who could purchase the car and the motorcycle at the most appropriate price.

c. The most frequent disposition option is for mike and gas cylinder. Mike stops functioning frequently whereas gas cylinders are required to be refilled regularly.


Related Solutions

Make sure to indicate the physical state of the products (s, l, g, aq) and include...
Make sure to indicate the physical state of the products (s, l, g, aq) and include any coefficients in front of the products needed to balance the equation. Then provide the total ionic equation and the net ionic equation for each reaction. a) HBr (aq) + NH3 (aq) ---> b) H3PO4 (aq) + Ba(OH)2 (aq) --->
Why is it important to periodically take a physical inventory when using a perpetual inventory system?...
Why is it important to periodically take a physical inventory when using a perpetual inventory system? Name a local company that you believe uses periodic inventory systems and a local company that you believe uses perpetual inventory systems. Explain your basis. need help with the questions to form a discussion for my accounting class
Why is it important to take a physical inventory periodically when using a perpetual inventory system?...
Why is it important to take a physical inventory periodically when using a perpetual inventory system? explain in 150 words
Describe at least one ethical dilemma that can arise out of physical inventory counts.
Describe at least one ethical dilemma that can arise out of physical inventory counts.
For each of the five scenarios given below, indicate whether the change is physical or chemical...
For each of the five scenarios given below, indicate whether the change is physical or chemical in nature and explain the reasoning behind your answer. 1. A carbonated beverage container is opened, producing a fizzing sound and carbon dioxide bubbles. Type of Change: Explanation: 2. Dry ice (solid CO2) is taken from the freezer, placed into a container, and is held at room temperature. With time, the volume occupied by the block of dry ice decreases and there is a...
Not all companies have inventory listed among their assets. When they do not have physical inventory,...
Not all companies have inventory listed among their assets. When they do not have physical inventory, should they still think about inventory? What do you mean? We focus in Finance on rewards for the shareholders. That is how we structure all our assessments. Many people focus on dividends as a measure of shareholder reward. Is that valid? Are there better assessments? Are dividends a good idea?
Complete and balance the following reactions. You must indicate the physical state of each property. 1...
Complete and balance the following reactions. You must indicate the physical state of each property. 1 NH4Cl(s) + KOH(aq) 2 Ba2CO3(aq)+HNO3(aq) 3 Mg(OH)2(aq)CO2(g) 4 AgNO3(aq)+ KCL(aq) 5 BaCl2(aq) +Na2SO4(aq) 6 LiCL(s) + H2SO4(l) 7 Nal(s) +H2SO4(l) 8 HOCL(aq) +KL(aq) +HCL(aq). Write net ionic equations for each of the above reactions except 6& 7
Describe each of the following stains, and indicate when it is appropriate to use each one:...
Describe each of the following stains, and indicate when it is appropriate to use each one: simple stain differential stain negative stain acid-fast stain flagella stain
which of the following methods can be used to estimate ending inventory when a physical count...
which of the following methods can be used to estimate ending inventory when a physical count is not possible: 1. lower of cost or market 2. FIFO 3. perpetual cost 4. gross profit Explain the answer in detail.
You are an auditor assigned to observe and test your client’s physical count of inventory at...
You are an auditor assigned to observe and test your client’s physical count of inventory at year-end. For one of your procedures, you have made your own test counts of randomly selected items of the client’s inventory. Clearly answer each of the following with respect to the year-end inventory account balance on the general ledger: A.) How could the evidence you selected be used to test the management assertion of completeness? B.) How could you test the management assertion of...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT